Because classical economists stressed the long run, they:
A) perceived the economy as being mostly self-adjusting.
B) favored the use of fiscal policy over monetary policy.
C) expected the government to purge the rot from the system.
D) favored the use of monetary policy over fiscal policy.

Question

Quizplus · Accepted Answer

Classical economists believed in the idea of market equilibrium and the self-correcting nature of the economy in the long run, with prices adjusting to balance supply and demand. Therefore, they believed that government intervention was unnecessary and even harmful to the functioning of the economy.

Because Classical Economists Stressed the Long Run, They